Eltek restructures under single brand name to
demonstrate renewed focus on high-efficiency power conversion
products

Eltek Valere and Eltek ASA merge into the Eltek
entity, but company remains committed to Valere product lines; new
website supports restructured company and enhances customer
experience

DRAMMEN, NORWAY – Dec. 13, 2011
– Eltek, the world leader in high efficiency power
systems for telecommunications, industrial applications, electric
vehicles and solar energy projects, announced today it has
finalized the merger of Eltek Valere into the corporate Eltek
brand, creating a single operational organization.

Eltek will continue to focus on leading the
industry in high-efficiency power conversion technology, and will
deepen its commitment to develop, sell and support the key products
under a Valere-titled product line from its 2007 acquisition of
Valere Power.

While the corporate company name change is
official, some Eltek Valere branding will remain in certain
countries throughout 2012.

The company recently divested itself of its Nera
Networks microwave radio unit to refocus on moving into new markets
for its core DC power technology. In recent years, Eltek has
expanded from its base in telecom power systems into solar
inverters, industrial DC power supplies, electric vehicle charging
products and other applications. In coordination with the change to
the Eltek name, a new website was launched today at www.eltek.com.
This new website not only touts the consolidated Eltek brand, but
offers an enriched customer experience with enhanced features and
access to information.

“For more than 40 years, Eltek has
pushed the boundaries of power technology and has lead the industry
in high efficiency power systems,” said Colin Howe, CEO
of Eltek. “The shift to a single corporate Eltek brand
doesn’t change our commitment to customers who depend on
the Valere power product line. In fact, the change is part of the
company’s ongoing evolution to improve its product
offerings, seek higher efficiency in products and processes and
meet changing customer needs and market requirements. We believe
the organizational changes that have taken effect today will
further streamline Eltek’s operational structure,
enabling the company to move forward with its globally aligned
brand and long-term strategic vision.”

About Eltek

Eltek is a technology leader in high-efficiency
(HE) power solutions for telecom and industrial applications. The
company also has a growing business in renewable markets, such as
photovoltaic grid inverters and chargers for electric vehicles.
Headquartered in Drammen, Norway, with U.S. headquarters in
Richardson, TX, the company’s global operations employ
approximately 2,900 people, offices in 40 countries and sales in
more than 100 countries. More information is at
http://www.eltek.com.